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Dividends declared (per SOCE filings): FY2016 0 · FY2017 250 · FY2018 307 — 3-yr total 557
City Loft LLC (სითი ლოფტი) is the holding company of Adjara Group, the hospitality and urban-development group founded in 2010 by Temur Ugulava (died June 2026), who owned City Loft outright. Adjara Group reports 15 buildings, 10 brands and ~1,700 staff: Rooms Hotels (Tbilisi, Batumi, Kazbegi, Abastumani), Stamba, Fabrika, Holiday Inn Tbilisi, Radio City (the former Mukhiani radio-plant site, via 100%-owned Industrial City LLC), Lolita, Shukura, Padel and the Udabno regenerative farm. City Loft also held 49% of Atlas LLC (404569944), the Adjarabet operator, after selling 51% to Paddy Power Betfair, now Flutter, on 1 February 2019 for £101m; the remaining 49% went to Flutter on 1 July 2022 for $251m. Filings cover FY2016-18 only, with 1,650 employees at the last one; FY2018 revenue ₾235m consolidates Adjarabet (₾215m that year), so the series is not a hospitality-only view. Adjara Group LLC files separately (205090890 to FY2021; 404676169 from FY2023).
Group parent — controls 1 company · ownership
| Line item | 2017 | 2018 | CAGR |
|---|---|---|---|
| 20,854 | 19,820 | -5.0% | |
| 173,435 | 303,310 | +74.9% | |
| TOTAL ASSETS | 194,289 | 323,130 | +66.3% |
| 68,897 | 159,373 | +131.3% | |
| 128,429 | 247,350 | +92.6% | |
| TOTAL LIABILITIES | 197,326 | 406,723 | +106.1% |
| 3,037 | 83,593 | +2652.5% | |
| Balance Check (Assets - L&E) | 0 | 0 | |
| Debt analysis | |||
| Total Debt | 172,379 | 319,272 | +85.2% |
| Cash & Equivalents | 8,143 | 3,190 | -60.8% |
| Net Debt | 164,236 | 316,082 | +92.5% |
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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